18 May 2004 01:47
Lukoil interested in 50% stake in Lotos
MOSCOW. May 18 (Interfax) - Russian oil major Lukoil is interested in a stake of at least 50% in Lotos Group,
Poland's second- biggest oil refiner, Lukoil Polska Executive Director Nikolai Ivchikov told reporters.
He said that his company is planning to participate in the privatization of these assets, which include Gdansk Oil
Refinery, the production company Petrobaltic and three refineries in southern Poland.
He said that a model has yet to be agreed for the privatization
of Polish oil assets, but added that the exchange model is a
Ivchikov said that a minority stake is currently being proposed to Lukoil, but that this is not acceptable to the
company. "The minimum share that would permit us to consider this project to be promising is 50:50," he
said.
priority.
Lukoil considers that the privatization of Polish oil assets will be completed in the first half of 2005.
He also said that the company is preparing a business plan for
the construction of from 50 to 300 filling stations in Poland,
He said that he hopes that the change in government in Poland, which should take place soon, will make it possible
for Lukoil to implement its plans in that country. Ivchikov said that previously Lukoil wanted to become a strategic
investor in Gdansk Oil Refinery "but the company was refused for political reasons."
He said that Gdansk Oil Refinery requires serious investment, otherwise programs to increase throughput from 4.5
million tonnes to 6 million tonnes million tonnes and to reconstruct the refinery will not be implemented. Lack of
investment may also put the southern refineries on the brink of liquidation, he said.
"We hope that economic factors will prevail over politics," he said.
depending on the pace of privatization of Polish oil assets. He said that the company is also involved in talks on
processing with the Polish company Orlen.
He said that Lukoil is interested in setting up direct dialogue with Poland, without intermediaries. "We need
direct contracts: oil, transportation, investment," he said.
He also said that the Polish side has proposed to Lukoil to sign two long-term agreements to transit and supply
oil.
Lukoil Polska currently controls 12% of the Polish liquefied gas market. This market amounts to 1.8 million tonnes of
gas per annum. Lukoil owns 130 filling stations in Poland. [RU EUROPE ASIA EEU EMRG ENR CRU OIL PL STX MRG] rd
[Interfax] |
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